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Auction types

Which auction is best for you

You found some interesting vehicles for your car business. And now you’re ready to start buying vehicles  on our online car auction. But what type of auction are you looking at? And how do the different types of auctions affect your chances of winning?

You’ll find four different types of auctions at CarsOnTheWeb. Once you know how they work, you’ll know the best approach to bidding and how to increase your chances of winning.


Dynamic auctions


Most auctions on our website are Dynamic auctions. They are simple, straightforward and run like regular auctions: you bid against other bidders until the auction finishes and you can see what the current highest bid is at any time. Bidding stops when the auction ends.

You can enter a maximum bid manually or let the bid agent do the work for you. You decide which approach works best for you.

After the auction finishes? It will usually take less than two business days before you know whether your bid was accepted and you’re the new owner of the vehicle.
A Dynamic auction is always easy to recognise. Look for this icon: Dynamic auction, dynamic car auction


Blind auctions


A Blind auction offers you one very particular advantage: no one apart from you can see the bid you’ve placed. Therefore, other bidders can’t knowingly out-bid you or try to drive the price up. Great news! But there’s a downside: you can’t see the bids they place either. This means you won’t find out until the auction finishes whether you have the highest bid. So make sure to make your bid as good as it can be, you only get one go. But never bid more than you’re prepared to pay. And don’t forget to factor your transport and import costs into this amount. Unless otherwise specified, you'll know within two working days, whether the seller has accepted your offer or not.

You can recognize a Blind auction by this icon: Blind auction, Blind car auction


Buy Now auctions


In a Buy Now auction, you can immediately reserve a car by bidding the Buy Now price. In other words, when you bid the Buy Now price, you are 100% sure that the vehicle will be assigned to you at the end of the auction. You could also place a bid that is lower than the Buy Now price. In this case, you will usually find out if the car was assigned to you within 2 business of the auction finishing.
You can recognize a Buy Now auction by this icon: Buy Now auction


Target auctions


In a target auction, you are guaranteed to get the vehicle you bid on. But only if you’re the highest bidder and your bid is equal to – or higher than – the Target price. Where can you find the Target price? It’s always mentioned near the bid button.
A target auction is easy to recognise by this icon: Target auction, Target car auction

Next to these four auction types, you will sometimes see additional icons. Here's what they mean:


100% assignment

The idea of a 100% assignment is simple: if you’re the highest bidder at the end of the auction, you’re guaranteed to have the vehicle assigned to you after the auction finishes.
You can recognise an auction with 100% assignment by this icon: 100% assignment auction


x-Time

Worried about auction snipers? They’re the people who wait until the last moment to suddenly out-bid you. No need, because during x-Time you will get your chance to put your best bid in.

x-Time  is a special phase that starts after the original duration of the auction has finished. During x-Time, the vehicles in that auction are auctioned again. The exact procedure can be found here! The highest bidder at the end of the x-Time is almost certain of assignment.

You can recognise x-Time Alphabet:

-  The x-Time phase will start in a few moments: x-Time phase
-  In x-Time:  x-Time auction, x-Time auctions, x-Time car auction
 
You can recognise x-Time LeasePlan

-  The x-Time phase will start in a few moments: x-Time LeasePlan
-  In x-Time: x-Time auction Leaseplan, x-Time auctions Leaseplan,

TIP: Use “My Bids” to follow up and improve your offer during x-Time and win the auction!

For more information about bidding and our auctions as well as some handy tips and tricks, download our Bidding Advisor below by clicking on the image and then clicking the download icon.

Bidding Advisor

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